PVC talks with Inter Rao Export (Russia)

Recently, in Hanoi, PVC Chairman Bui Ngoc Thang had a talk with a delegation from Inter Rao Export (Russia) led by Mr. Yury Lapkin, Director of Regional Trade Development.

Inter RAO Export is a subsidiary of Inter RAO, a major Russian State Electric Power Holding which includes more than 20 companies operating in more than 30 countries and controls a number of generation and distribution assets in Russia and abroad. The total installed capacity of electric power plants owned and operated by the Holding is about 34,000 MW and 35,000 km of electrical transmission line.

Inter RAO Export specializes in development of the Holding's business in foreign markets. Its main activity is participation in foreign projects of construction and modernization of generation capacity as an electric power equipment supplier.

At the meeting, Mr. Yury Lapkin expressed his wish to cooperate with PVC in Quang Trach 1 Thermal Power Plant project which PVC is estimated to be assigned as EPC Contractor. Specifically, Inter RAO Export wishes to participate in the project as a supplier for main process and its auxiliaries as well as to undertake other works required under EPC scope. For the finance aspect, Inter RAO Export is capable to secure the Russian ECA financing covering 85% of the project value.

As evaluated by PVC management, Inter RAO Export is a potetial company who has experiences and capacity to meet requirements of the packages they estimated to participate. Both sides continue discussing cooperation capabilities in Quang Trach 1 Thermal Power Plant project.

Quang Trach 1 Thermal Power Plant project is owned by Vietnam National Oil an Gas Group, with total capital of about 1.7 billion USD, capacity of 1200 MW, supplying about 8.5 billion KWh per year in commercial operation. PVC is awarded by the Government to be EPC Contractor of the project. At present, the Owner is adjusting and updating the planning of the project, selection of contractors for EPC package will be completed in 2016.

Viet Duy